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Saudi Arabia Set to Raise Oil Output Amid Recovery in Prices – The Wall Street Journal

World’s largest oil exporter plans to reverse recent unilateral production cut, while OPEC-plus seen likely to roll over curbs



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Saudi Arabia plans to increase oil output in the coming months, reversing a recent big production cut, say advisers to the kingdom, a sign of growing confidence over an oil-price recovery.
The worlds largest oil exporter surprised oil markets last month when it said it would unilaterally slash 1 million barrels a day of crude production in February and March in an effort to raise prices.
But the kingdom plans to announce a reversal of those cuts when a coalition of oil producers meets next month,…

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